Spring Market Is Officially Underway.

Buyers Are Back: Market Momentum Builds as First-Time Buyers Surge and Sellers Gain Confidence

By Will Savino, Licensed Real Estate Realtor

Will@PatriotRealProperties.com | 631.889.9080

After months of uncertainty and stalled activity, fresh data shows real signs of momentum in today’s housing market. First-time buyers are returning. Sellers are gaining confidence. And while competition remains, the numbers suggest a more balanced—yet still dynamic—environment is taking shape.

According to the latest report from the REALTORS® Confidence Index, first-time buyers accounted for 31% of purchases—a clear jump from 28% last month and 26% a year ago. This increase is a strong signal that affordability pressures and economic headwinds aren’t deterring buyers who are ready to take the leap into homeownership.

Sellers Are Showing Up—and Getting Results

Seller confidence is building, too. 29% of real estate professionals expect an increase in seller activity over the next three months, up from 27% last month. That optimism reflects what we’re seeing on the ground: well-priced homes in desirable areas are drawing attention—and often offers.

In fact, 21% of homes sold above asking price this past month, a notable increase from 15% the month prior. Even in a market that has cooled from the frenzy of recent years, tight inventory continues to give sellers the upper hand in many price points and neighborhoods.

Speed Still Matters—But With a Slight Shift

Half of all homes sold within 30 days, up from 47% just a month ago. However, the pace is a bit slower than this time last year, when 56% of homes moved that quickly. What’s changed? Buyers are still active, but they’re being a bit more discerning. The average number of offers per listing dipped to 2.3, down from 2.6 in February and 2.7 last year. Sellers should still expect competition, but not always a bidding war.

Cash Is Still King—But Tech Is Toning Down

32% of homes were purchased with all cash, up slightly from last month. These buyers—often investors or downsizers—are still able to compete strongly and close fast.

At the same time, we’re seeing a shift in how homes are being purchased. Just 6% of buyers purchased a home without physically seeing it, relying solely on virtual tours or open houses. That’s down significantly from 10% last year, pointing to a return to in-person, thoughtful decisions.

Contracts and Contingencies: What’s Changing?

Closings are holding steady at an average of 30 days, but under the surface, there are small but important shifts:

• 5% of contracts were terminated in the last three months—virtually unchanged.

• 13% were delayed, slightly higher than last month.

• 7% were delayed due to appraisal issues, up from 5% the month before.

Most notably, more buyers are waiving contingencies—a clear sign that some competition is heating up:

• 24% waived the inspection contingency, up from 18%.

• 24% also waived the appraisal contingency, up from 17%.

While these tactics can help us win bids, they also carry risk—something buyers should weigh carefully with professional guidance.

Buyers Are Still Looking Beyond the Cities

Remote work continues to shape where people want to live. A full 83% of buyers are looking outside of city centers, reinforcing the continued appeal of suburban, small-town, and rural living.

Other notable stats:

• 5% of sales were for vacation homes—unchanged.

• 3% were distressed properties—stable and low.

• Only 1% of sellers worked with an iBuyer, showing that instant offers are playing a smaller role in today’s market.

What This Means for You

Whether you’re buying your first home, considering a move, or evaluating when to list your property, the latest numbers tell a clear story: activity is picking up. First-time buyers are showing up in larger numbers. Sellers are starting to re-enter. And while inventory is still tight, opportunities exist for buyers who are prepared—and for sellers who know how to position their home effectively.

The spring market is officially underway. If you’re wondering how to navigate it successfully, I’m here to help.

Will Savino

NYS Licensed Realtor

Will@PatriotRealProperties.com

631.889.9080

Serving Suffolk, Nassau & the Greater NYC Area